Image: Editorial Maraustralis
In a surprise move, former Balenciaga chief executive officer Isabelle Guichot will not remain with parent company Kering after nine years at her role.
According to Reuters, an agreement has been reached where Guichot will depart the Paris-based luxury goods holding company, which owns various labels including Gucci, Balenciaga, Alexander McQueen and Saint Laurent Paris, amongst other sport & lifestyle brands.
You may also like: Behind Bottega Veneta’s Iconic Bounce-Back from Near Bankruptcy
In November, Cedric Charbit replaced Guichot, who was expected to progress on to new responsibilities within Kering. Charbit was previously with Yves Saint Laurent, where he was the head of merchandising. Kering initially said that Guichot would remain with the parent company when her resignation was announced in October.
Balenciaga estimates annual sales of around U$423 million.
You may also like: New CEO Nikolas Talonpoika Takes the Reins at Christopher Kane
The move highlights a further round of musical chairs in the luxury industry, which has seen a series of management changeovers in the past couple of years, including new CEOs or new head designers. Among fashion brands that have reshuffled their management includes Gucci, Bottega Veneta, Alexander McQueen and Brioni.
Indeed, it was recently announced that Natacha Ramsay-Levi, design director of Louis Vuitton, will be joining French fashion house Chloé as their new creative director. The move has fuelled industry speculation on the new design direction of Chloé, whose flowy silhouettes and romantic motifs are unlike Ramsay-Levi signature hard fabrics.
You may also like: Hedi Slimane Exits Saint Laurent